El Salvador is now the only country where Bitcoin can be used as a legal tender next to the US dollar. Because cryptocurrency mining is excessive energy consumption, the country is considering using energy promoted by volcanoes.
Now, this idea comes out of paper and El Salvador will really start mining Bitcoin through volcanic energy.
Also Read: Bitcoin mining with nuclear energy
President El Salvador, Nayib Bukele, took a brave step on the road that could be forecast with uncertain. Bitcoin is now used as a legal tender and, therefore, citizens can use it to make payments, just like they do with the currency used before.
Today, El Salvador woke up and studied, with tweets from Nayib Bukele, that the first day of Bitcoin’s mining through volcanic energy has arrived – a solution that appeared in June this year and intends to control and minimize energy consumption related to the process. This country has extracted equivalent to $ 269 in Bitcoin, using energy produced by volcanoes.
Recently, the President posted a video of 25 seconds with government-branded cargo container containers full of bitcoin mining platforms, and technicians installed and connected ASIC operators near the volcano. The content described as “the first step …” has become a viral.
Despite being successful, President El Salvador clarified that mining projects were still ongoing and that experts were in the process of “testing and installing new equipment. More than that, even though it seems new, already there for some time: “It’s just geothermal energy […] Iceland has done it from the beginning of Bitcoin’s mining,” said Alejandro de la Torre, Bitcoin Miner.
However, this is a good opportunity for El Salvador, because it was nicknamed “volcanic land”. In other words, this valence can help the state to reduce its emissions which are the opposite will be associated with bitcoin mining.